题目
For which is duration LEAST appropriate?
选项
A.Zero coupon bond
B.bond with fixed cash flows
C.Bond with embedded option
D.High convexity bond
答案
C
解析
Measures [based on the assumption of parallel yield shifts, such as duration] have two important weaknesses. First, they can be reasonably used only for securities with fixed cash flows. Second, the assumption of parallel yield shifts is not a particularly good one and, at times, is internally inconsistent.”措施[基于平行收益率变动的假设，例如期限]有两个重要的弱点。 首先，它们只能合理地用于具有固定现金流量的证券。 其次，平行的收益率变动的假设并不是一个特别好的假设，而且有时内部不一致。